Netflix Reaches Milestone

Apr 26, 2011  •  Post A Comment

After signing on an average of 1.1 million U.S. customers for each month in the first quarter, Netflix now has more subscribers than any other video service in the country, reports The New York Times’ Media Decoder blog.

The company now has 22.8 million U.S. subscribers, the story notes. The country’s biggest cable operator, Comcast, had reported 22.8 million customers at the end of 2010. Netflix also reported first-quarter earnings, with $60 million in net income, almost double what it earned in the year-earlier period, the story says. Sales jumped 46% to $719 million.

Comcast and Netflix don’t directly compete, and Netflix is considered a supplemental service to cable and satellite television, although just two years ago Netflix had only 10 million customers.

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